Australia: Restockers milk rain money-making opportunity to send market out on a high

The sharp upward movement of cattle prices is expected to continue for the last week of trading for 2024 as restockers and traders ensure they won't have feed in paddocks going wanting. What has emerged is that producers are looking to milk shorter-term opportunities on the back of recent rain, rather than rebuilding herds further. Agents say in many areas, that is because breeding numbers are generally at what is considered capacity and in others the risk appetite is not there, given season volatility. ANZ's beef and cattle experts say there is clear evidence of the shorter-term focus in the premium restocker steers are currently trading at to heifers. ANZ's latest commodity insights report tips cattle prices to continue to rise as the export boom rolls on and producers look for light stock to take advantage of current grass growth. The potential presented from the United States shortage of beef is well-known but in recent weeks some analysts have indicated the best of that ...